Monex’s November 2024 FX Forecasts

The dollar rallied in October, buoyed by stronger-than-expected economic data and FOMC pushback on recession fears. Meanwhile, tensions between Iran and Israel, along with shifts in the U.S. presidential race between Trump and Harris, added further upside support for the greenback. Indeed, it is this latter dynamic that is front of mind at the beginning of November, with the race for the presidency too close to call. From a currency perspective, it is fiscal and trade policy that matters most, and the differences between Trump and Harris are significant. This leaves the dollar at a crossroads, with traders bracing for volatility. All eyes are now on the US, with the next resident of the White House set to be a major influence on global markets in the coming months.

You can read our November 2024 FX Forecasts report here:

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Author:

Nick Rees, Senior FX Market Analyst

Disclaimer

This information has been prepared by Monex Europe Holdings Limited, part of Monex S.A.P.I. de C.V. (“Monex”). The material is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is, or should be considered to be, financial, investment or other advice on which reliance should be placed. No representation or warranty is given as to the accuracy or completeness of this information. All entities in the “Monex” group of companies are regulated for different products and services within the jurisdictions in which they operate. Details of the different entities can be found here. Details of the respective entities’ regulated status and available products and services can then be found on the relevant links to the individual jurisdictions’ website.